Below are the account balances for Cowboy Law Firm at the end of December Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 3,800 1,400 1,800 4,700 1,200 12,200 7,700 4,400 VE Answer is complete but not entirely correct. 7,700 7,700 X COWBOY LAW FIRM Income Statement For the Period Ended December 31 Service revenue $ Retained earnings X $ Expenses: Salaries expense 1,400 Utilities expense 1,200 2,600 (100) X Total expenses Net income $ 5,100 5,100